Federal Tax Update Podcast

This week we look at the following items:

• Colorado reports disappointing results from tattletale use tax law
• Oklahoma enacts a second tattletale use tax law
• IRS grants relief for last minute change in HSA maximum contribution amount for 2018
• Volunteers who divided amounts in tip jar at end of shift received tips subject to FICA
• Taxpayer who failed to check and find return was never accepted held liable for late filing penalty

Copyright 2018 Kaplan Inc.

This week we look at the following items:

• IRS computer system failure ends up adding one extra day to tax season
• The Supreme Court heard oral arguments in the Wayfair case
• IRS gives details on blended rates to be used by fiscal year C corporations
• IRS issues the rates for valuing employer owned aircraft trips for the first half of 2018
• The IRS clarifies how the repeal of the special alimony trust provision in TCJA will work
• The AICPA asks the IRS to reconsider its position on refunds of overpayments for those with remaining 965 transition tax installments

Copyright 2018 Kaplan Inc.

This week we look at the following developments:

• Supreme Court will shortly hear oral arguments in Wayfair case
• A number of states increase pressure on out of state sellers
  • Idaho requires collection at $10,000 of sale from any seller that the Supreme Court doesn’t tell us lacks nexus in Wayfair
  • Georgia adds a $200,000/200 transaction tattletale statute
  • Oklahoma puts a $10,000 tattletale statute in place that also impacts referrers
• New York passes two TJCA SALT limitation workaround statutes - but do they work?
• IRS issues guidance on three TCJA topics on Monday, including 43 pages on Section 965 transition tax

Copyright 2018, Kaplan, Inc.